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• Module Part 1 - 43.41 minutes Learn about benefit plans. Pension benefit plans vs. welfare benefit plans. Defined contribution plans vs. defined benefit plans. What is ERISA? What is a qualified plan and the advantages of having one?
• Module Part 2 - 45.26 minutes Learn about who can sponsor a retirement plan and the parties involved in running a qualified plan. Who is a fiduciary, plan administrator, or an actuary and what do they do? What are prohibited transactions and who are parties-in-interest?

• Module Part 1 - 38.26 minutes This module presents an overview of the characteristics of defined contributions plans. Then it delves into the characteristics that make each defined contribution plan different. The common ones considered are the profit sharing plan, money purchase plans and 401(k) plans.
• Module Part 2 - 30.42 minutes This module continues looking at the characteristics that make each defined contribution plan different and considers some of the more unusual types of plans. It looks at IRAs, SEPs, SIMPLEs, 401(b) plans, 457 plans and ESOPs. The module goes on to talk about deductibility of employer contributions in a defined contribution plan.

3. Defined Benefit Plans

• Module Part 1 - 42.13 minutes Hear a discussion about the general characteristics of defined benefit plans. Then move into some of the specific issues that affect these plans like funding issues, benefit formulas and the normal form of benefit.
• Module Part 2 - 22.15 minutes Continue hearing about more of the specific issues that affect defined benefit plans including accrued benefits, actuarial equivalence, maximum benefit limitations and maximum tax deductions.

4. Plan Qualification and Document Language

• Module Part 1 - 36.56 minutes The presenter talks about the benefits of a qualified plan and what the qualification requirements are. It ends with a presentation about the types of qualified plan documents considering master/prototype plans vs volume submitter vs. individually designed plans.
• Module Part 2 - 43.28 minutes All plan documents have common provisions. This module presents many of these such as eligibility, entry dates, vesting and common definitions. There is a discussion of various documents that must be created when an employer sets up a qualified plan. The module ends with a talk about government guidance that affects qualification: ERISA, Code, Regulations, Rulings, etc.

5. Distributions from A to Z

• Module Part 1 - 29.27 minutes The distribution presentation is in three modules. The first one addresses when payments to participant are permitted, the amount of benefit payments from a plan and then covers withdrawals that occur when a participant is still employed … in-service, hardships and QDROs.
• Module Part 2 - 11.54 minutes The second module goes over distributions that are made when an employee has terminated from employment. It looks at required distribution forms and alternate distribution forms.
• Module Part 3 - 23.59 minutes The third module addresses taxation of distributions, rollover, withholding and required minimum distributions.

6. Participant Loans

• Module Part 1 - 15.09 minutes Learn about the benefits of having a participant loan program in a 401(k) plan. The legal background is considered and then a full discussion of what allows a loan to be exempt from the prohibited transaction rules.
• Module Part 2 - 34.07 minutes Continuing the discussion of loans this module goes into the taxation perspective of loans and what is necessary to avoid having the loan treated as a distribution. Issues such as the maximum loan amount rules, the loan terms and refinancing are discussed. 

7. Plan Changes and Error Corrections

• Module 1 - 26.14 minutes During the life of a plan events occur that will require the plan document to be changed. These may be generated at the employer level or from outside sources such as the affects of legislation. These events are discussed plus how to make amendments and employee notification requirements.
• Module 2 - 26.51 minutes This module addresses the consequence of plan disqualification and then the programs available through the IRS to correct certain qualification issues. The DOL’s correction program for fiduciary violations is also covered.

Retirement Plan Fundamentals Part 2

The Retirement Plan Fundamentals Part 2 set consists of seven webcourses. Each webcourse set contains seven modules, which represent the seven main topics covered by the complete webcourse. Each module is divided into two or four parts, approximately 25 minutes per part (exact times provided below). 

1. Top Heavy Plans and Coverage Testing

• Module Part 1 - 20.48 minutes Learn to identify Key employees and characteristics of Top Heavy plans as well as how to run a top heavy test when more than one plan is involved.
• Module Part 2 - 20.47 minutes Learn the meaning of coverage and benefitting, who can be excluded and how to run a coverage test.

2. HCEs and 401(k) Nondiscrimination Rules

• Module Part 1 - 28.44 minutes Learn how to identify a Highly Compensated Employee and how to perform nondiscrimination testing for a 401(k) plan and associated correction methods for failed tests.
• Module Part 2 - 23.25 minutes Learn the defining characteristics of an ACP and how to utilize a design based safe harbor to avoid ADP/ACP testing.

3. Defined Contribution Allocations and Annual Additions

• Module Part 1 - 34.30 minutes Learn about types of contributions, allocations earnings associated with DC plan and the limits the affect them.
• Module Part 2 - 14.39 minutes Learn about how forfeitures occur and their use in a DC plan and how to calculate maximum annual additions.

4. Investments in Daily Valued Plans 

• Module Part 1 - 47.20 minutes Learn characteristics and concepts for various investment options available in the qualified plan market. The module specifically addresses asset classes, mutual funds and types of stable value investment contracts.
• Module Part 2 - 35.22 minutes Learn characteristics and concepts for various investment options available in the qualified plan market. The module specifically addresses life insurance and employer stock.

5. Fiduciary Considerations

• Module Part 1 - 23.11 minutes Learn how to identify a fiduciary based on ERISA, some of the fiduciary functions specifically in the selection and maintenance of investments in the plan.
• Module Part 2 - 28.44 minutes Learn how the Pension Protection Act changed ERISA 404(c), how to differentiate investment advice from education, how to address deposit timing and how fiduciary rules relate to TPAs.

6. Conversions 

• (Decisions and Issues) - Module Part 1 - 27.06 minutes Learn when a conversion occurs and how establish expectations for converting a qualified plan.
• (Decisions and Issues) - Module Part 2 - 24.25 minutes Learn how to establish expectations for converting a qualified plan, specifically the interplay of VRU / website capabilities, investment transition and reporting and communicating with participants.
• (Types and Methods) - Module Part 3 - 17.55 minutes Learn about blackout periods and various types of conversions in relation to the type of record keeping used by each entity involved in the transition of the plan.
• (Types and Methods) - Module Part 4 - 16.39 minutes Learn about how take plans from a daily environment to daily as well as going from a balance-forward to daily environment.

7. Differences Between Balance-Forward and Daily Valuation

• Module Part 1 - 20.33 minutes Learn the defining characteristics of these two accounting methods and the differences in allocating earnings
• Module Part 2 - 35.24 minutes We continue to explore the differences in these two accounting methods specifically as it relates to reporting, transaction processing, investment types and automated response systems.

Defined Contribution Administrative Issues – Basic Concepts (DC-1)

The DC-1 webcourse series consists of seven webcourses. Each webcourse is divided into two modules. These webcourses are instructed by Sarah Simoneaux, CPC.

1. Plan Eligibility & Participation

• Module Part I - 20.19 minutes. Covers age and service requirements; plan entry dates; multiple eligibility schedules; and improperly covered/excluded employees. 
• Module Part II - 21.27 minutes. Discusses excluded employees; counting service; employment termination and Breaks-in-Service; and changes to eligibility requirements

2. Vesting

• Module Part I - 21.35 minutes. Discusses what vesting is; allowable vesting schedules; when full vesting is required; forfeiting the non-vested balance; and disposition of forfeitures.
• Module Part II - 21.02 minutes. Covers counting service; Year of Service for vesting (termination, rehire and break in service); and vesting and forfeiture case study.

3. Highly Compensated Employees & Coverage

• Module Part I - 24.30 minutes. Covers Highly Compensated Employees; 5 Percent Owner Test; and Compensation Test (Top Paid Group Election).
• Module Part II - 30.08 minutes. Discusses Coverage Testing including identifying those excludable from test and benefitting/non-benefitting participants; Ratio Percentage Test; and Aggregation and Disaggregation.

4. Key Employees & Top-Heavy Plans

• Module Part I - 18.30 minutes. Discusses Key Employees (basic definition, Officers and former Key and Non-Key and Employees) and Top-Heavy Determination (determination date and aggregation group).
• Module Part II - 30.07 minutes. Covers calculating the Top-Heavy ratio (rollovers, amounts to include, amounts to add back and amounts to disregard) and requirements for Top-Heavy plans (including minimum contributions/benefit accruals and vesting).

5. Plan Amendments & Terminations

• Module Part I - 33.02 minutes. Covers types of amendments (mandatory, voluntary and corrective) and amendment procedures (process and timing).
• Module Part II - 22.42 minutes. Discusses Terminate or Freeze; Full Termination (establishing termination date, plan amendments, participant notification, vesting and distributions and determination letter application); Partial Termination and Complete Discontinuance; and Abandoned Plans.

6. Contributions, Allocations & Annual Additions

• Module Part I - 26.56 minutes Discusses allocation of contributions; conditions on receiving allocations; and nondiscrimination concerns.
• Module Part II - 23.54 minutes. Discusses limitation on annual additions; defining compensation (post-severance compensation); and aggregation of plans.

7. Deductions

• Module Part I - 23.58 minutes. Discusses deduction limit for defined contribution plans (overall limit, definition of compensation, which contributions are included and coordination with annual additions limits) and timing of contributions.
• Module Part II - 25.28 minutes. Covers deduction limit for DB/DC plan combinations; deduction limit for self-employed individuals; deductions for short taxable year or short plan year; and nondeductible contributions.

Defined Contribution Administrative Issues - Compliance Issues (DC-2)

The DC-2 webcourse series consists of seven webcourses. Each webcourse is divided into two modules. These webcourses are instructed by Charles J. Klose, FSPA, COPA, CPC. 

1. 401(k) Coverage & Nondiscrimination 

• Module Part I – 24.49 minutes Discusses the mandatory disaggregation provisions that apply and the difference between participants in testing group and benefiting group relative to coverage testing.
• Module Part II – 35.08 minutes Discusses ADP and ACP tests, identification of participants and types of contributions included in the ADP/ACP tests and prior year and current year testing methods.

2. Correction of Failed ADP/ACP Tests & Correction of Excess Deferrals

• Module Part I – 31.32 minutes Discusses ADP/ACP Correction Methods including corrective distributions, corrective contributions, recharacterization and shifting.
• Module Part II - 27.50 minutes Discusses leveling method used to determine excess contributions and excess aggregate contributions and correcting excess deferrals.

3. Special Coverage & ADP/ACP Testing Rules

• Module Part I – 28.04 minutes Covers mandatory aggregation rule for HCEs, permissive aggregation and effects on nondiscrimination testing, otherwise excludable employees and special ADP/ACP rules affecting union employees.
• Module Part II – 29.36 minutes Covers double-counting limits when switching from current year testing to prior year testing, effects of coverage changes on nondiscrimination testing for plans using prior year testing and IRC §410(b)(6)(C) transition period.

4. Allocation Methods

• Module Part I – 33.22 minutes Provides an overview of IRS §401(a)(4) nondiscrimination requirements, nondiscrimination of contributions, safe harbor approach, rate group approach and permitted disparity. 
• Module Part II – 39.10 minutes Continues discussion of permitted disparity, cross-testing concepts and gateway test as preliminary condition to use cross-testing.

5. ERISA §404(c)

• Module Part I - 22 minutes Discusses the description of ERISA §404(c), protections offered by ERISA §404(c), and ERISA §404(c) requirements pertaining to: Choice (Investment options); Change (Frequency); and Communication (Disclosure). 
• Module Part II – 32.32 minutes Discusses ERISA §404(c) relief relative to employer securities in plan, when fiduciaries may decline to follow investment instructions, qualified default investment alternative (QDIA), mapping of investments, education versus advice and backout period requirements.

6. Distributions & Taxation

• Module Part I – 36.52 minutes Discusses allowable distribution events for pension and non-pension plans, forms of distributions (i.e., annuity, installment, lump sum), QJSA rules and §401(k) hardship withdrawal rules.
• Module Part II – 31.33 minutes Discusses required minimum distribution requirements under IRC §401(a)(9), eligible rollover distributions, premature distributions (i.e., pre 59 ½), withholding requirements and reporting requirements.

7. Plan Loans

• Module Part I – 27.03 minutes Discusses ERISA prohibited transaction exemption applicable to plan loans, loan rules of IRC §72(p) pertaining to amount, term, and repayment provisions; cure period provisions; and non-military leave of absence provisions.
• Module Part II – 26.04 minutes Discusses military leave of absence provisions; deemed distributions and loan offsets; and refinancing provisions.

Defined Contribution Administrative Issues – Advanced Topics (DC-3)

The DC-3 webcourse series consists of seven webcourses. Each webcourse is divided into two modules. These webcourses are instructed by Laura R. Harrington, CPC, QPA, QKA.

1. IRC §§415 & 414(s) Compensation

• Module Part I – 32.03 Minutes. Discusses the uses of IRC §415 compensation; permissible definitions of compensation under IRC §415; and IRC §415 compensation after severance. 
• Module Part II – 25.28 Minutes. Discusses the uses of IRC §414(s) compensation; safe harbor definition of IRC§414(s) compensation; non-safe harbor definitions of IRC§414(s) compensation; and IRC§414(s) compensation for self-employed individuals.

2. Leased Employees, Multiple Employer & Multi-Employer Plans

• Module Part I – 23.01 Minutes. Reviews the definition of leased employee; impact on recipient employer; impact on leasing organization; issues that arise when individual changes status during the year; and common qualified plan arrangements between leasing organizations & recipient employers. 
• Module Part II – 24.19 Minutes. Reviews the definition of multiple employer plan and application of qualification requirements; and the definition of multi-employer plan and application of qualification requirements.

3. Average Benefit Test & Special Coverage Testing Rules

• Module Part I – 29.40 Minutes. Discusses the average benefit test basics; performing the nondiscriminatory classification test; and performing the average benefit percentage test.
• Module Part II – 23.15 Minutes. Discusses permissive aggregation; mandatory disaggregation; elective separate testing of otherwise excludable employees; coverage transition rule; and coverage testing for QSLOBs.

4. General Nondiscrimination Testing, Gateway Preconditions & Availability of Benefits, Rights & Features

• Module Part I – 31.50 Minutes. Discusses the Safe Harbor §401(a)(4) plans and general testing. 
• Module Part II – 27.04 Minutes. Discusses the gateway preconditions on general testing and the availability of benefits, rights and features.

5. General Characteristics of ESOPs, Special Rules for Dividends & How Leveraged ESOPs Work

• Module Part I – 26.06 Minutes. Discusses the general description of ESOPs and the basic rules of ESOPs. 
• Module Part II – 23.25 Minutes. Discusses the special rules for dividends; general rules of ESOP loans; types of loans; and special deduction and allocation rules for leveraged ESOPs.

6. QJSA, QPSA & Life Insurance in Qualified Plans

• Module Part I – 23.44 Minutes. Reviews the QJSA and QPSA rules. 
• Module Part II – 22.45 Minutes. Reviews definitions in relation to life insurance in qualified plans; P.S. 58 costs; taxation of life insurance proceeds; incidental benefit limits; and life insurance prohibited transaction exemptions.

7. Self-Employment Issues

• Module Part I – 20.32 Minutes. Reviews the definition of Self-Employed Individual; definition of Earned Income; and special rules. 
• Module Part II – 24.13 Minutes. Discusses the calculation of contributions and the deduction limit calculation.

Defined Benefit (DB)

The Defined Benefit (DB) webcourse series consists of seven webcourses. Each webcourse is divided into two modules. These webcourses are instructed by Michael L. Bain, MSPA.

1. Accrued Benefits

• Module Part I - 31.17 minutes Acquire knowledge about accrued benefits while exploring information and examples of accrual methods, formulas, and forms of benefits in defined benefit plans. Gain an awareness of fully insured plans, crediting of service to determine benefits with a brief discussion about contribution limits and top heavy rules.
• Module Part II - 26.01 minutes Expanding on the topic of accrued benefits, further discussion is held on top heavy plans to include definitions of required aggregation groups and permissive aggregation groups. Considerations for prior distribution, former key employees, related rollovers and specific vesting schedules are shared. Topics on pre-Tax, voluntary and mandatory employee contributions, as well as, post retirement accruals and anti cut-back rules are available.

2. Present Value of Accrued Benefits

• Module Part I - 19.24 minutes Investigate the present value of accrued benefits, lump sum benefits and considerations when types of benefits change, the age benefits are payable change and probability of death. Elements to further consider are periods of time, interest rates and mortality tables
• Module Part II - 27.46 minutes Further your understanding of accrued benefits through discussions on present value; alternate forms and/or age of benefit; pros and cons related to the annuity and lump sum benefit distributions. Use of Actuarial equivalence and assumptions in the defined benefit plan are significant components to necessary formulas when determining accrued benefits; and the introduction and transition rule for the use of the yield curve for present value presented to us by the Pension Protection Act of 2006.

3. Hybrid Plans

• Module Part I - 29.25 minutes Delve into the characteristics and behaviors of a cash balance plan enhanced by discussions on crediting of contributions and earnings along with an understanding of funding of and benefits payable from this type of defined benefit plan. Explore Cash Balance Plan designs, non-discrimination requirements and the steps to convert a traditional defined benefit plan to a cash balance plan.
• Module Part II - 28.11 minutes Capture an understanding of non-traditional defined benefit plans such as Pension Equity or PEP plans and Floor Offset Plans. The discussion about PEP plans includes expressing accruals as percentages with a focus on lump sum payments at retirement. Other topics about minimum funding, application of top heavy and qualified joint and survivor or QJSA rules are incorporated in this module. Floor Offset plan content demonstrates a minimum benefit structure and safe harbor options. A planning opportunity is shared with several examples for each plan type. An overview of characteristics show these plans are DB in nature with an examination driven by pros and cons for these plans.

4. Coverage and Non-Discrimination

• Module Part I - 20.07 minutes Broaden your understanding of possible discrimination in a defined benefit plan. This module identifies required testing that assists in the monitoring and prevention of plan level discrimination. Delve into highly compensated employees, controlled groups, affiliated service groups and qualified separate lines of business (QSLOB). Learn to recognize former employees, excludable employees and special rules governing participation testing.
• Module Part II - 26.24 minutes Continue to expand your understanding of possible discrimination in a defined benefit plan through discussion about similarities and differences between participation testing and coverage testing. Module topics include safe harbor percentage, average benefit percentage and non-discriminatory classifications that will assist in finding different ways to satisfy coverage testing.

5. Disparity and Non-Discrimination

• Module Part I - 23.56 minutes Discover social security integration, otherwise referred to as permitted disparity, in a defined benefit plan and related benefit formulas. Let us introduce you to an Excess Plan and an Offset Plan while exploring taxable wage base, average annual compensation, final average compensation and covered compensation. Expand your knowledge further with discussions that include integration levels, maximum excess allowances, maximum offset allowances, uniform disparity and rules for multiple plans.
• Module Part II - 31.30 minutes Complimenting the topic in Module IV, Coverage and Non-Discrimination, this module offers an explanation of 401(a) (4) General Non-Discrimination testing for defined benefit plans. General testing includes a look into alternate forms of benefits and benefits rights and features. A discussion of Safe Harbor designed plans and a variety of examples showing application of General Non-Discrimination testing completes the sequence of non-discrimination tests for defined benefit plans.

6. Benefit Limits and QDROs

• Module Part I - 25.58 minutes Exercise your knowledge of defined benefit maximum benefits and potential limitations by means of topic discussions and ample application through examples. The topic discussions include possible adjustments due to age, years of service and alternate forms of benefits along with how to determine average compensation.
• Module Part II - 28.59 minutes Acquire information on these topics through an introduction of terms, such as, alternate payee, domestic relations order (DRO) and a qualified domestic relations order (QDRO). Gain an understanding of the DRO and the processes and procedures necessary to qualify these orders. Learn what a QDRO can require and what a QDRO must provide to establish within the plan.

7. Notices and Distribution Issues

• Module Part I - 26.22 minutes Find out required elements and disclosures for notices and related timing of events. Engage in an understanding of notice and distribution issues and expectations to process distributions. Learn about retroactive annuity starting dates or RASDs along with required minimum distributions, taxation and withholding.
• Module Part II - 23.57 minutes Discover the importance of AFTAP, Adjusted Funding Targeted Attainment Percentage, relief provided through the Pension Protection Act of 2006. Also included are discussions about potential distribution restrictions from a defined benefit plan and related notices. This module provides timing and possible penalties due to failure to notify defined benefit participants. Notices generated due to funding policies, amendments, summary of material modifications and suspension of benefits are included.

About the Instructors

RPF-1 & RPF-2 Instructor - Ilene H. Ferenczy, JD, CPC
Ilene H. Ferenczy is the managing member of the Law Offices of Ilene H. Ferenczy, LLC, a boutique benefits law firm in Atlanta, Georgia. She specializes in employee benefits, including qualified pension and profit sharing plans, executive compensation, and other benefits. Ms. Ferenczy is a nationally known speaker and has authored more than 60 articles on benefits topics for national journals including the Journal of Taxation of Employee Benefits, the Journal of Pension Benefits, where she is the Co-Editor, and the ASPPA Journal. In addition to authoring ASPPA's DC-1, DC-2, and DC-3 textbooks, Ms. Ferenczy is the author of Employee Benefits in Mergers and Acquisitions, a Panel publication, which is in its 8th edition. She was the first female co-chair of ASPPA's Government Affairs Committee, a member of ASPPA's Board of Directors, and a trustee of the ASPPA Pension Education and Research Foundation. Ms. Ferenczy is ASPPA's 2007 Educator of the Year. Ms. Ferenczy is a magna cum laude graduate of UCLA, with a B.A. in History, and received two J.D. degrees, both summa cum laude, from Georgia State University College of Law and Western State University College of Law. She is admitted to practice law in Georgia and California and is a member of the Tax Section of the American and Atlanta Bar Associations.

DC-1 Webcourse Instructor - Sarah Simoneaux, CPC
Sarah Simoneaux is a Consulting Partner of Simoneaux & Stroud Consulting Services, which offers consulting services related to retirement services. The firm specializes in business planning, business consulting, industry research, professional development, employee training and customized skill building workshops. Sarah has worked in the employee benefits industry since 1981, and she served as the 2005-2006 President of ASPPA. She currently serves as an Educational Programs Advocate for ASPPA. She is the author of Retirement Plan Consulting for Financial Professionals, the required textbook for ASPPA's first Plan Financial Consultant exam (PFC-1). Sarah also served as a 2008-2009 Technical Education Consultant for the Enrolled Retirement Plan Agent (ERPA) exam program. She is a Certified Pension Consultant (CPC) with ASPPA.

DC-2 Webcourse Instructor - Charles J. Klose, FSPA, COPA, CPC
Charles J. Klose is a Senior ERISA Consultant with Vanguard’s Strategic Retirement Consulting group. Chuck currently is a member of the ACOPA Miscellaneous Committee, the Advanced Actuarial Conference Committee and the Defined Benefit Subcommittee. He is a former Vice-President of ASPPA and has served on ASPPA’s Board of Directors. Chuck has taught semester-long pension courses to prepare students to sit for various ASPPA exams in the Philadelphia area for over 25 years.

DB Webcourse Instructor - Michael L. Bain, ASA, EA, MAAA
Michael L. Bain is President of CMC Retirement and Employee Benefits Specialists, Inc. Mr. Bain is an enrolled actuary and is a member of the Society of Actuaries, the American Academy of Actuaries, and ASPPA. He has also served on the Board of Directors for ASPPA and has been active in many ASPPA committees and programs. Mr. Bain speaks frequently for groups and has spoken for professional organizations including ASPPA, the National Institute of Pension Administrators and the International Foundation of Employee Benefits. Mr. Bain has conducted numerous seminars on the latest topics in the pension arena for accountants, brokers, and clients. In addition, he has taught various mathematics courses at community colleges and at the University of California, Riverside.Mr. Bain received his BS and MS in mathematics from the University of California at Riverside, where he also earned a Phi Beta Kappa key.

Please Note: The statements and materials presented are solely the opinions of the instructors and do not represent the opinion or the position of ASPPA or the Institute for Pension Plan Management. ASPPA and the Institute for Pension Plan Management assume no responsibility for the content of the statements and materials presented by course instructors.

Questions?

E-mail education@asppa.org.